TurboTax Deluxe vs Premium: Do You Need the Upgrade?
Heads up: InstallTurboTax.us is an independent, taxpayer-friendly help site. We are not affiliated with, endorsed by, or sponsored by Intuit Inc. or TurboTax®, and we are here only to make your tax software easier to use. Always verify pricing and features on the official TurboTax site. Full disclaimer.
Deluxe and Premium are two steps up TurboTax's online ladder. Deluxe is the deduction-focused tier for itemizers and homeowners, while Premium is the all-in-one top tier that handles investments, rental property, cryptocurrency, and self-employment together. Starting with tax year 2023, Premium absorbed the old Premier and Self-Employed online editions, so it's now the single product for more complex returns.
The trick is matching the edition to the kinds of income and forms you actually have. Below, we'll show you where the line falls, plus the situations that push you toward the upgrade. As always, prices are approximate and shift each season, so go ahead and verify the current numbers on the official TurboTax site.
Side-by-side comparison
| Feature | TurboTax Deluxe (Online) | TurboTax Premium (Online) |
|---|---|---|
| Price (federal) | ~$69 | ~$129 |
| State return | ~$59-69 extra | ~$59-69 extra |
| Itemized deductions (Schedule A) | Yes | Yes |
| Stocks & investment sales (Schedule D) | No | Yes |
| Rental property income (Schedule E) | No | Yes |
| Cryptocurrency transactions | No | Yes |
| Self-employment / 1099-NEC (Schedule C) | No | Yes |
| Best for | Homeowners & itemizers | Investors, landlords & freelancers |
Choose Deluxe if…
- You itemize deductions or own a home but have no investment, rental, or self-employment income.
- Your income is W-2 wages plus maybe simple interest or dividends.
- You want deduction-finding help without paying for features you won't touch.
- You sold no stocks, traded no crypto, and rented out no property this year.
Choose Premium if…
- You sold stocks, bonds, mutual funds, or other investments.
- You bought or sold cryptocurrency during the year.
- You own rental property and need Schedule E.
- You're self-employed, freelance, or have 1099-NEC income and business expenses.
- You have a mix of these and want them all handled in one return.
Our verdict
Deluxe is the right fit when your return is about deductions, not complex income. But the moment you add investment sales, crypto, rental property, or self-employment income, you'll need Premium, simply because Deluxe doesn't include those forms. If even one of those applies to you, save yourself the hassle and go straight to Premium so you skip the mid-return upgrade prompt.
Frequently asked questions
Did Premium replace Premier and Self-Employed?＋
Yes. Starting with tax year 2023, TurboTax merged the online Premier and Self-Employed editions into a single product called Premium. It covers everything those two used to handle, so nothing has been lost.
I only have a few dividends. Do I need Premium?＋
Not necessarily. Simple interest and dividend income can often be handled by lower tiers. Premium becomes necessary when you sell investments, trade crypto, or have rental or self-employment income.
Can I downgrade from Premium back to Deluxe?＋
TurboTax sets your edition based on the forms your return requires. You generally can't downgrade once your return needs a Premium-only form, but remember, you only pay when you file.
Was this page helpful?
Comments
Loading comments…
Join the discussion
Sign in with your email to leave a comment. Comments appear after approval.